Does this apply to AoE? I never played it much in its hey-day but it would be interesting to get into properly. I have no interest in buying an old game with DRM given the obvious potential for maintenance issues though.

I haven't checked AoE myself. If you're concerned about DRM, games using Steam DRM are usually the easiest to crack on your own by just by replacing the Steam DLL that ships with the game with one that emulates its functionality.

You could buy it and then download a cracked one